Category: Medical Real Estate

San Antonio, the seventh most populous city in the U.S., is attracting new residents at an impressive clip – the Alamo City added 24,473 residents between July 1, 2015 and July 1, 2016. During that time, only Los Angeles and Phoenix added more residents.

In fact, all of Texas’ major cities are popular relocation destinations – Dallas, Fort Worth, Houston and Austin all ranked in the top 10 for population gains.

The state is also experiencing extremely strong demand in the healthcare market, with a medical construction pipeline totaling $15.8 billion – second largest in the nation.

Ackerman & Co. was impressed with this extremely active construction pipeline and ongoing investment in new health system facilities. In particular, the $135-million investment by CHRISTUS in the city’s first stand-alone children’s hospital was a key reason the firm decided to team with Artemis Real Estate Partners and MLL Capital on the acquisition of a four-building, 423,411-square-foot MOB portfolio.

So, it’s easy to see why Ackerman determined that the four on-campus properties offered a promising investment opportunity. Ackerman and its partners will spend $27 million to reposition the four MOBs into top-tier medical facilities to meet the rising demand for outpatient services.

In addition to the city’s strong demographics and thriving medical market, Ackerman & Co. viewed the $175-million redevelopment of San Pedro Creek – which runs past the children’s hospital and will be transformed into a linear park – as another incentive to expand into San Antonio.

“They’re willing to take their own money and spend $175 million reinvesting in San Antonio. Those are the kinds of communities – thoughtful, forward-thinking communities – we want to do business in,” Kris Miller, President of Ackerman, told the San Antonio Express-News.

Bryan, who earned the Ackerman & Co. Top Young Producer of the Year award years before, continues to surpass expectations, evidenced by his most recent deals.

Last month, Bryan signed a new medical tenant and renewed an existing one, both at ten-year terms. The active broker also signed a brand new retail tenant and assisted a long-term tenant with a major expansion, doubling their space for another 10-year term.

If you’re in the market for a diligent, service-oriented commercial real estate solution provider, Bryan is your expert.

Keene Miller, Ackerman & Co. President of Brokerage and also President of The Atlanta Commercial Board of Realtors, spoke at the 59th Million Dollar Club Banquet, celebrating the best in commercial real estate. The Atlanta Commercial Board of REALTORS® is one of the largest commercial in the nation with more than 2,200 members. The 2017 Million Dollar Club produced over a record-setting $26+ billion in commercial real estate transactions, surpassing the previous record of just over $25 billion, set in 2016.

Ackerman congratulates all Million Dollar Club award winners, including our own, for their outstanding achievements. Each of the following Ackerman brokers has generated in excess of four and a half million dollars in commercial real estate sales and leasing activity last year.

F. Keene Miller, President of Brokerage with Ackerman & Co. was named President of the Atlanta Commercial Board of REALTORS (ACBR) for the 2017 term. Miller was sworn in during ACBR’s Annual Business Meeting and Awards Ceremony held at the InterContinental Hotel Buckhead on December 9th. The Atlanta Commercial Board of Realtors, an instrumental factor in the growth of organized real estate in the state of Georgia since 1910, is the largest commercial realtor association in the country with more than 2,500 members.

.

“Service above self is his motto,” said John O’Neill, senior managing director at Cushman & Wakefield, when describing Miller from the podium during the ceremony. “Keene is a consensus builder who leans in to get the job done,” he added. Miller will be the association’s 42nd president.

Miller who believes in “never letting the moment be bigger than him” is committed to the ACBR’s continued efforts to increase diversity, offering higher education classes and advocating for the commercial real estate industry while supporting the communities in which they do business.

In our last post, we discussed how to choose the best environment – office or retail – to meet your dental practice needs. This month, we’ll outline the pros and cons of your next major decision: whether to build new and renovate an existing building?

Before putting on your hard hat, it’s important to consider several key factors as you choose the right path for your practice’s current and future needs.

Recently we discussed the factors that go into making an Atlanta dental practice successful. But before these components come into play, there is a major decision to be made: what environment is better suited for your practice? Office or retail? Read this installment to find out which is right for you.

In our last installment, we outlined what factors play into determining the perfect location for a new dental practice in Atlanta. We discussed finding a community, job growth and social obligations. This month, we’ll take an in depth look at the role demographics play in choosing a thriving community for your dental practice, whether it’s a start-up, second office or relocation.

Kris Miller, President of Ackerman & Co., spoke to a packed room of industry professionals last night at The Atlanta Commercial Board of Realtors’ 56th Million Dollar Club Banquet. “We are here to honor the best commercial board in the country,” he said. The Atlanta Commercial Board of REALTORS® is one of the largest commercial in the nation with more than 2,200 members. The 2013 Club produced some $17 Billion in commercial real estate transactions.

Ackerman applauds all Million Dollar Club award winners and proudly recognizes its own for their outstanding achievements. Each of the following Ackerman brokers have generated in excess of three million dollars or more in commercial real estate sales and leasing activity last year.

Most recently, we shared our expertise with you on how to start a new dental practice in Atlanta. We went over the pros and cons and armed you with valuable information to support your endeavors. This week, we’re discussing how to find the just-right location to start that practice.

While you’re probably thinking “I just want to be in a thriving community,” we will challenge you think beyond that. Because whether or not you realize it, family and social obligations will become more and more important in your life. At 25, spending hours in a car to get to the perfect location might be fine, but at 35, you’re going to want to see a t-ball game more than the Braves.

Dentists begin the process any number of ways. Some start with equipment vendors. Others look for rental space or contact dental office brokers seeking to purchase a fully functioning dental office. But at some point, the question emerges:

Do I want to start from scratch or purchase an existing practice?

There are no wrong answers to this question. Practices, like real estate, are valued by the market. There are times (if prices and demand are low) when there’s no question that purchasing a practice is the right solution. In the last year, most of our clients sifted through every dental practice on the market and felt the existing inventory was picked over. If that’s the case, then you have two options: wait until the market changes or start your own practice. If you’re to the point that you’re ready to start your own practice from scratch.

Where do I begin?

If you’re early in the process, you may not yet realize that real estate is just the tip of the spear. Dentists need a solid team to aid in the daunting process of starting their own practice. The team should include:

But none of these can get very far without the identification of real estate.

If you live in a market that supports dental-focused commercial real estate brokers (like us in Atlanta), an experienced real estate broker will have a network of providers to guide you through the process. Even if that option is not available to you, it still benefits you to find an experienced broker who will advocate on your behalf to ensure the best possible outcome. When seeking such a broker, look for a broker who:

Focuses exclusively on commercial real estate

Works exclusively with dentists

Has represented other dentists you know

Some markets may have only two of the above, but I’ll bet you can find at least one of the above requirements in any market. The experience of a commercial, dental focused and trusted broker combined, offers a professional with whom you can go into battle.

From here, the paths toward practice ownership are legion. But with a good foundational team, in place from the beginning, you’ll have the guaranteed support you need to make the best decision should any trouble arise.

To read the entire post and learn how to start a dental practice in Atlanta, click here.

About Ackerman & Co.

Ackerman & Co. is one of the top commercial real estate companies in the Southeast with more than 35 million square feet of office, medical, retail and mixed-used space developed, nearly 8 million square feet more under management, an investment portfolio valued at more than $1 billion and a widespread presence that leverages the experience of more than 100 real estate professionals.